England and Wales Case Law

Afan Valley Ltd & Ors v Lupton Fawcett LLP

The claimants failed to establish any recoverable loss within the scope of Lupton Fawcett's duty of care. Any liability to repay investors under s.26 FSMA was matched by the receipt of equivalent funds, and commissions or fees were not within the risks against which the defendant's duty was intended to protect. The claim for compensation under s.26(2)(b) FSMA was not pleaded, and in any event, any such liability would not exceed the claimants' exposure to contractual or tortious claims in the counterfactual scenario. The application to amend pleadings and adduce new evidence on appeal was ref…

Source excerpt

• Solicitor's duty of care
• Collective investment schemes
• Financial services and markets act 2000 (fsma)
• Summary judgment
• Strike out
• Scope of duty

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EC3 Brokers Ltd, In the Matter Of

EC3 Brokers Ltd, In the Matter Of [2026] EWHC 829 (Ch) (14 April 2026)

The court approved a scheme for distributing EC3 Brokers’ client money in administration, using reconstructed records, a risk-transfer presumption, and a bar date.

• Client money distribution
• Statutory trusts
• Administration of insolvent companies
• Financial conduct authority rules
• Remuneration of administrators
• Client-money

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EC3 Brokers Limited (In Administration), Re

The court approved a client-money distribution scheme for EC3 Brokers Ltd in administration and allowed the administrators’ remuneration and costs from the pool.

• Statutory trusts
• Client money distribution
• Insurance intermediaries
• Court directions to administrators
• Remuneration of office holders
• Client-money-distribution

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Robin Crispin Odey v The Financial Conduct Authority

The Upper Tribunal granted a reporting restrictions order protecting the identities of alleged complainants and related individuals in proceedings involving Mr Odey.

• Reporting restrictions
• Confidentiality
• Tribunal procedure
• Reporting-restrictions
• Tribunal-procedure
• Media-law

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Southern Rock Insurance Company Limited, Re

The scheme satisfies all statutory requirements under FSMA, does not materially adversely affect policyholders or service standards, and is appropriate for sanction given the business consolidation and continuity of service.

Source excerpt

• Insurance business transfer
• Solvency
• Regulatory compliance
• Business consolidation

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Zurich Insurance Company Ltd, Re

Zurich Insurance Company Ltd, Re [2026] EWHC 1165 (Ch) (25 March 2026)

The High Court sanctioned a Part 7 transfer of Zurich Insurance Company Ltd’s legacy employers’ liability business to Catalina Worthing Insurance Limited.

• Part 7 insurance business transfer
• Solvency requirements
• Policyholder protection
• Regulatory approval
• Scheme sanction
• Part-7-insurance-business-transfer

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Daljit Kaur Dhillon v Jeffrey Orchard & Anor

The Court of Appeal held that FSMA section 26 recovery rights do not extend to successors in title and allowed the appeal. It also held the new point should not have been admitted.

• Sale and rent back agreements
• Regulated activities
• Successors in title
• Land registration
• Consumer protection
• Financial-services-and-markets-act-2000

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Brinphar Ltd & Ors v Ever Bright Inn Ltd & Ors

Brinphar Ltd & Ors v Ever Bright Inn Ltd & Ors [2026] EWHC 644 (Ch) (17 March 2026)

The High Court held the claimants’ hotel room leases survived disclaimer of sub-leases, bound the defendants as successors, and were not converted into licences.

• Collective investment schemes
• Disclaimer of leases
• Effect of administration on leases
• Enforceability of profit share provisions
• Successor liability
• Fsma 2000 compliance

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Kiakiafx Limited v The Financial Conduct Authority

The Upper Tribunal held it had no jurisdiction over the Final Notice, found no s393 FSMA identification of KiakiaFx, and refused suspension and privacy.

• Third party rights
• Regulatory notices
• Jurisdiction
• Privacy applications
• Third-party-rights
• Regulatory-notices

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UK Insurance Ltd, Re

UK Insurance Ltd, Re [2026] EWHC 796 (Ch) (25 February 2026)

The High Court sanctioned a Part VII FSMA transfer of UK Insurance Limited’s brokered commercial lines business to Intact Insurance Limited, with ancillary orders.

• Insurance business transfer
• Fsma part vii scheme
• Regulatory approval
• Ancillary orders
• Policyholder protection
• Insurance-business-transfer

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